Mr. Stuart Harshaw reports

NICKEL CREEK PLATINUM ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Nickel Creek Platinum Corp. intends to raise capital by way of a non-brokered private placement for aggregate gross proceeds to the company of up to approximately $1.8-million. The private placement will consist of the sale of units of the company at a price of 4.5 cents per unit. Each unit will consist of one common share of the capital of the company and one-half of one common share purchase warrant, with each warrant exercisable for one common share at an exercise price of eight cents for a period of three years from the date of issuance, subject to adjustment upon certain customary events.

The net proceeds from the private placement will be used to finance the company's completion of the prefeasibility study (PFS), continuing permitting activities and holding costs at its 100-per-cent-owned Nickel Shaw project, and for general corporate expenses and working capital purposes.

In connection with the private placement, the company's largest shareholder, Electrum Strategic Opportunities Fund LP, has indicated its intention to backstop up to $1.25-million of the private placement, subject to customary conditions and otherwise on the same terms as the private placement.

Stuart Harshaw, president and chief executive officer of Nickel Creek, commented: "Nickel Creek is fortunate to have the continued support of Electrum demonstrating the endorsement for the company's plans going forward."

The closing of the private placement is expected to occur on or around May 15, 2023, and remains subject to the approval of the Toronto Stock Exchange and other customary closing conditions for a transaction of this nature. The units will be issued on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws. The common shares and the warrants (and any warrant shares, as applicable) will be subject to a statutory hold period of four months and one day from the date of issuance of the units.

Pursuant to Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions, the private placement would constitute a related party transaction as Electrum (and certain other insiders of the company) will subscribe for units. These transactions will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as the fair market value of any units subscribed for by insiders pursuant to the private placement will not exceed 25 per cent of the company's market capitalization.

About Nickel Creek Platinum Corp.

Nickel Creek Platinum is a Canadian mining exploration and development company and its flagship asset is its 100-per-cent-owned Nickel Shaw project. The Nickel Shaw project is a large undeveloped nickel sulphide project in one of the most favourable jurisdictions in the world, with a unique mix of metals including copper, cobalt and platinum group metals. The Nickel Shaw project has exceptional access to infrastructure, located three hours west of Whitehorse via the paved Alaska Highway, which further offers year-round access to deep-sea shipping ports in southern Alaska.

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